It's Do or Die for Gold and Silver
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(Kitco News) - Being bullish on the metals has been painful; there has been a dramatic drop off in interest as these markets have mostly drifted or got pounded lower. We were and still are bullish but our line in the sand comes right here in the $1,220 area in gold (puking out under $1,200) and the $16.00 level in silver (trading at $15.98, puking out at $15.70).
The metals story has been very conflicted with the weight on the dollar and the support levels the metals had the weakness is surprising. As traders and investors, we have to always remember the market is always right, if Metals don’t hold here, down they will go.